Skip to main content

About your Search

KRON (MyNetworkTV) 4
( more )
English 78
Search Results 0 to 49 of about 79 (some duplicates have been removed)
tax bill as the so-called fiscal cliff of automatic spending cuts and tax hikes comes ever closer. >> his proposal, known as plan b, was shot down by republicans who refuse to support any tax increases. the plan would have raised taxes on income over $1 million. he says it is now up to president barack obama to come up with a solution. >> what could that mean for ordinary americans? our reporter went to find out. >> store manager jennifer thomas sells trendy designer fashions at her boutique in the u.s. capitol, washington, d.c. it is a tough business. competition is fierce, and it could get worse if the u.s. were to slip over the fiscal cliff. automatic tax hikes across the board would mean less disposable income for american consumers. >> i think our biggest concerns here are we will not be seeing people purchase as many items as they have in the past. we will see people buy jeans and a top, but they will not buy an additional pair of jeans or a dress on top of that. >> many customers are already pinching pennies. >> it has put a lower ceiling than normal on what we can spend fo
'll close a deal to end the fiscal cliff crisis. taxes for 90% of us will go up in days unless an agreement is reached. president barack obama is now in hawaii for christmas with his family. yesterday, he urged the congress to adopt a stopgap measure to keep benefits flowing to unemployed workers that prevent taxes from rising on income under $250,000 a year. house speaker john boehner, he's home in cincinnati tonight. he failed the get mobs of his -- to get members of his own party to support the plan b. proposal for ending the crisis. today boehner was blaming democrats for the stale mail by refusing to include -- stalemate by refusing to include entitlements in the proposal. >> what the president is offering so far won't do anything to solve the problem. instead he wants more spending and more tax hikes that will hurt the economy. and he refuses to challenge the members of his party to deal honestly with the entitlement reform and the big issues that are facing our nation. that's why we find ourselves here today. >> president said on friday that since the deal has not been reached he wou
cliff of tax increases and spending cuts. still, congress has gone home for the holidays, and today president obama and his family arrived in honolulu, where they'll celebrate christmas. the president says he is ready to return to make a deal. retailers called today "super saturday." it is traditionally one of the busiest shopping days of the year. businesses are banking on it because so far this season sales numbers have not been as stroongz many had hoped to see. here's michelle miller. >> reporter: kidding around isa a specialty toy store in new york city. you won't find any of this stuff at target, wal-mart? >> no. >> reporter: the owner says today is his busiest day of the year. within the last month, what have your sales been? >> they're up from last year about 5.5% but some of that is the influence of the early hanukkah. >> reporter: he's doing better than most retailers. shopper track, which monitors consumer behavior nationwide, predicted holiday sales growth of 3.3%. they just cut it to 2.5%. >> the traffic growth has been solid but people are still very tight with their p
goes over the fiscal cliff and taxes go up for every family in america. but there is still time for the speaker to hit the brakes and avoid that cliff. >> even though democrats and republicans are arguing about whether those rates should go up for the wealthiest individuals, all of us, every single one of us agrees that tax rates should not go up for the other 98% of americans, which includes 97% of small businesses. every member of congress believes that. every democrat. every republican. so there is absolutely no reason, none, not to protect these americans from a tax hike. at the very least let's agree right now on what we already agree on. let's get that done. >> the house of representatives now stands in recess until thursday, december 27th. just four days before we step off that fiscal curb. this week, the office of management and budget issued guidance to government agencies outlining the potential impact of the $1.2 trillion in budget cuts, which will start to take effect on january first, if congress does not act. joining me now is ezra klein, columnist for "the washing
of the consequences of going off of the fiscal cliff in terms of tax increases. according to reuters, it would mean another $221 billion when the bush era tax cuts expire. guest: next year. host: payroll tax relief would expire. that would cause another 95 others billion. additional provisions expire for $65 billion and new affordable care act taxes would cause an increase of $18 billion. on the other side of the fiscal cliff, spending cuts that would happen according to reuters, $65 billion for the budget -- for the budget control act. 26 tons billion in the emergency unemployment benefits would expire -- $26 billion in emergency unemployment benefits would expire. back to the phones. jim from michigan on our line for democrats. how are you? caller: i am great. how are you. host: where is your city? caller: it is near south bend, indiana near where notre dame is. i have a comment on your previous caller first. one of the impressions one could get with the way he talked to obama is like our spending started with obama -- out of control spending. that was in place with bush. obama inherited it. with
the fiscal cliff, there's a larger budget looming and tax reform will be a big component of that. what's it going to look like and i also think health reform. the health reform law is here to stay. 2013 is that drop dead date of when everything is supposed to be implemented so next year is going to be a critical year where we see everything plays out and what it means in terms of cost of coverage. >> okay. bill, so it was your survey or the nfib survey that showed that pessimism. we had you guys for a little while, but now you've gone back to where it was. what do you think will turn people's attitudes around, get them more optimistic again? >> well, i think we have to get consumers to be a little more optimistic. you notice the consumer optimism went into the tank as well last month, so if they're not spending it, of course, there's not much we can do. we'd be happy to hire a few more million people if we just had customers to take care of and that's really not the case. so we've got a very dour outlook. in fact, the november reading was the tenth lowest in our survey of our 350,000 m
time get two flip covers for the price of one. exclusively at verizon. >>> so far the fiscal cliff debate has focused on tax tas, how much the 1% or 2% of americans will see their rates go up. tax hikes on the rich alone will not put all that much of a accident in the national deficit. you could take away every dollar from the top 1% earners and it wouldn't fill the gap. we heard earlier in the week about chained cpi, a suggestion john boehner made for his proposal. christine? >> chain cpi would change the way the federal government calculates inflation, which could stave federal government $300 billion over the next decade if implemented. the consumer price index measures how much they go up by tracking a basket of goods that americans typically buy. this is important because it's used to calculate cost of living adjustments and social security. checks pay a little more each year in line with inflation as calculated by that consumer price index. now, one potential flaw in the system, consumer price index assumes people don't change their basket, if, say, the price of meat goes up.
the fiscal cliff and its effect on their taxes on this final weekend before christmas, malls are packed across america. millions of folks, myself among them, doing a lot of last-minute shopping. nbc's michelle franzen is along 5th avenue here in midtown manhattan where the buying seems to be brisk. michelle, good evening. >> reporter: well, good evening, lester. shoppers are out tonight on this last saturday before christmas, typically one of the busiest days of the shopping season. whether shoppers are wrapping up gift buying or just getting started. but for some, that uncertainty over the fiscal economy is also affecting how much they'll spend. with just three more days to shop before christmas, the crowds are out in full force on this super saturday. >> i know who i need to buy for but not what i'm buying yet. >> reporter: even as uncertainty over the fiscal cliff is on the minds of some shoppers. >> it's sort of scary. it's concerning. >> reporter: a poll out this week of 1500 americans showed that 17% are planning to spend less due to money concerns. still, retail analysts say holi
, congress and president obama could say no to the fiscal cliff by extending all the tax cuts an overturning the automatic spending reductions incurrent law. what about that scenario? >> i think that is right. and frankly is probably what they'll do. look at the timeframe congress has left, i think, at the beginning, you said, it is nine or ten days and it is really four by the time they get back on the 27th and keep in mind when they come back they have four days to write -- come up with a deal and write the legislation and get it scored and there's a lot to do in four days and it is unlikely they'll get a deal done. so what they'll do is kick the can down the road at least a month and that is likely once they get back on the 27th. >> heather: like my late christmas shopping, everyone has a gift card for a sweater. thanks... >> hopefully not a tax increase. >> heather: thank you very much. >> thank you. >> all right. >> gregg: a great example of american ingenuity. a company that relies on summertime to make money is actually finding a new way to stay in business in the wintertime deliverin
over the fiscal cliff because any vote on taxes technically would be to cut them? >> we've heard some republicans say that, but i think overall, they know. both sides know that to go over the cliff, will lead to political consequences. polling suggests that republicans would suffer the most if something like that happens. the speaker especially labeled unpopular and somewhat responsible for this, and i think republicans will help that. taxes shurnt go up. if they were to go up by law, conceivably they could come back in january and lower them and campaign on the fact that they lowers taxed. >> let's take a look at what speaker boehner said on friday. >> many of us believe on both sides of the aisle, the fundamental reform of our taxes will help get our economy moving faster and get more americans back to work. how we get there, god only knows. >> so the president says he's going to head back to washington after christmas to try and hammer out a deal before new year's. babe boehner said god only knows, god and ed o'keefe. how do they get there? >> for practical reasons there, are bills
tonight with the fiscal cliff, justin days from the largest tax hike in american history was no movement toward a fiscal cliff deal more in the action in the house or senate. the responsibility now to avoid massive taxes and draconian spending cuts resting squarely on the president. fox news chief white house correspondent ed henry with our report. >> just as our economy is really startingo recover and starting to see optimistic signs and we have seen actually some upside to from a wole range of areas, including two from including housing, now is not the time for more self-inflicted wounds , seven not the estimate from washington. lou: presdent obama's top advisers were quick to dump on the speaker come -- declaring he is backed into a corner. >> they went from plan b to plan seal later. the fact that they could not even plan -- pass that was an embarrassment. >> in private the president's advisers admit they are bit more apprehensive firmly believing mr. obama has the upper end of the public. if the market takes the hit to the commander-in-chief we will still faceis share of heat for wa
and the fiscal cliff: we talk with his long-time friend and "fortune" magazine journalist carol loomis. that and more tonight on "n.b.r." some straight talk from president obama tonight about the fiscal cliff. speaking to reporters from the white house he said he's ready and willing to get a comprehensive package done, but it's up to republicans and democrats to make it happen. >> nobody gets 100% of what they want. everybody has to give a little. >> susie: the president also proposed a smaller package that prevents taxes for 98% of americans from going up and for unemployment insurance to be extended. he pressed lawmakers to agree on this in the next ten days. darren gersh has details. >> reporter: one day after the collapse of efforts to avoid the fiscal cliff, all sides were speaker boehner tried to shift that burden, saying democrats unemployment insurance to be extended. >> we can't cut our way to prosperity we need real economic growth. and many of us believe on both sides of the aisle that fundamental reform of our tax code will help us get our economy moving faster and put more
the fiscal cliff by allowing the taxes to go up on the top 2%, president obama gets his $250,000 tax increase threshold, and then the middle class gets the same rate extension. we're not cutting anything here, by the way, we're getting a rate extension. and so republicans can vote present, the middle class still gets their same rate, president obama gets what he wanted with the tax hike on the rich, and they can say, look, we gave him what he wanted. this is his now. >> you can't take $500 billion out of this year's economy without any serious consequences. i mean, it'll be about $500 billion. you can't, that's going to hurt. that could threaten the recession. >> there's no doubt if we go over the cliff and it stays there's a recession in the first six, possibly nine months, there's no doubt about it. >> they've got to make a deal. they've got to. >> i think what they're leaning -- part of the reason the president said what he said is that i think there is hope that they might do a patch, essentially. >> all right. >> so sort of -- and sort of lay out some parameters for -- >> a verbal agreem
. is there a plan c or over the fiscal cliff. dan henninger, editorial board member. mary anastasia o'grady and jason riley. where do we stand right now with the collapse of plan b? >> well, it's no fun being john boehner right now. he's still in a tight spot and the concern that the republicans have is that obama's panel strength and as we go over the cliff and tax rates go up. but i really think the buck stops with the president here. when you go into the negotiating sessions, paul and you're expected to make concessions, but you're expect today get something in return and boehner made a major concession on rights and the president is giving him nothing in return to take that to his caucus and say, this is what happened in the horse trading. it's all or nothing, obama seems determined to humiliate the opposition. >> paul: boehner made two concessions, first 800 billion on the table in revenue and don't raise rates when the president said no he, you've got to raise rates. he said okay, a concession on rates, an offer first we'll vote for a million dollar tax increase on those making
up with a solution. to avoid the fiscal cliff. that is the end- of- the year trigger on tax hikes. and spending cuts. >> in the next few days i've asked leaders of congress to work towards a package that prevents a tax hike on middle class americans, protects unemployment insurance for 2 million americans and lays the groundwork for further work on both and deficit reduction. >>pam: house speaker john boehner failed to gain enough of his party's support for his "plan b". that proposal would have raised taxes only on those americans making more than one million dollars a year. without a deal, steep tax hikes and massive government spending cuts are set to kick in after january first. as the fiscal cliff countdown continues. house and senate members and president obama. have all recessed for the christmas holiday. >> the ninth circut court of appeals today blocked a california law which bans the controversial therapy. that aims to turn gay minors. straight. the three judge panel issued an emergency order, to put the law on hold until the court can hear further arguments. the law. wh
the government from car ring off the fiscal cliff. the plan includes extending tax cut for most americans and taken steps to avoid a papal set of agency budget cuts. >> the president suggested that any chance for a smaller deal may rest in the senate. particulary after the collapse of a plan by house speaker john boehner to allow tax rates to rise for wealthy americans. >> coming up on kron 4 news weekend. an appeals court makes a ruling on a state law which bans their peak aimed at turning gay minors straight. we will have more details. here is a live look outside at mt. tam. we will be right back. >> it is back at 8:09 a.m.. we are keeping an eye on the weather this morning. 50 at ski run over to the sierra. it is expected to be cloudy today with scattered snow showers and very high wind gusts. high temperatures are only going to be in the '20s. they are expecting plenty of snow. anywhere from 1 to 5 ft.. chains are also required on most of the highway is going up. >> parts of the midwest are still dealing with a blizzard conditions this weekend. if this is video out of westwood, ohio o
called on congress to solution. to avoid some end- of- the year tax hikes. due to the fiscal cliff. >> in the next few days i've asked leaders of congress to work towards a package that prevents a tax hike on middle class americans, protects unemployment insurance for 2 million americans and lays the groundwork for further work on both and deficit reduction. >> pam: this comes after house speaker john boehner failed to gain enough of his party's support. to his "plan b". his proposal would have raised taxes only on those americans making more than one million dollars a year. without a deal, steep tax hikes and massive government spending cuts are set to trigger after january first. as the fiscal cliff countdown continues. house and senate members have already recessed for the holidays. >> president obama will nominate senator john kerry as the next secretary of state. he made the announcement at the white house today. current secretary of state hillary clinton is stepping down in january.u-n ambassador susan rice was reportedly on the short list, but took herself off it, citing a "
nothing. because all the taxes will go up after the fiscal cliff. >> but hold on, because i think you're being too triumphant about this. the truth is you're right. democrats right now are probably winning the fight on taxes. >> definitely. >> but you know what? but the truth is the republicans are winning the fight on spending. because you know what is going to happen on january 1st? we're going to get that sequester. and i guarantee you, liberals are going to scream bloody murder about the cuts. the cuts are very significant. >> how harmless in the sequester are all of the entitlement programs. defense is going to get a $500 billion cut. >> that's true. i hate to see it. >> you know what? that actually is the only way you're ever going to cut defense. and they held harmless to most americans. your side has lost this negotiation. >> stephen, may i throw one other issue into the mix? >> but you're also going to get steep -- just read what the left is saying. they're say oh my god, with un100,000 teachers are going to lose their job, nurses are going to lose their job. >> and republica
goes over the fiscal cliff and taxes go up for every family. there is still time for the speaker to hit the brakes and avoid the cliff. we do not need a thelma and louise projection over the cliff. the senate-passed bill would protect 98% of families and 97% of small businesses from a crippling tax hikes all the speaker and the president work out an agreement. that agreement should be comprehensive. the republicans want to ensure that taxes do not go up on january 1, they should pass the senate bill. the only reason the speaker has not brought it to the floor sooner is that he knows it will pass. americans are not fooled by the speakers of phony, procedural excuses for failing to bring the bill to a vote. they expect action. let me be very plain. there is nothing presenting the speaker from presenting our bill and giving middle-class families certainty. this is not a game. this is not scoring political points. there will be very serious consequences for millions of families to go congress fails to compromise. there'll be a very serious consequences for our country ago congress fails to
to avoid the fiscal cliff. the president said he hoped any deal to avoid the fiscal cliff would also include and extension of unemployment insurance and lay this is about 7 minutes. >> good afternoon, everybody. for the last few weeks, i have been working with the leaders of both parties on a proposal to get our deficit under control, to avoid tax cuts -- to avoid tax hikes on the middle-class. and to make sure we can spur jobs and economic growth. a balanced proposal that cuts spending, but also ask the wealthiest americans to pay more, a proposal that will strengthen the middle class over the long haul, and our economy over the long haul. in the course of these negotiations, i offered to compromise with republicans in congress. i met them halfway on taxes and more than halfway on spending. today, i am still willing to get a comprehensive package done. i still believe that reducing our deficit is the right thing to do for the long-term health of our economy and the confidence of our businesses. i remain committed to working towards that goal, whether it happens all at once, or whet
from the country going over the so-called fiscal cliff, automatic tax increases on nearly every american and huge spending cuts to defense and social programs are set to take effect the 1st of january unless the president and congress reach a new budget deal. but most lawmakers have deserted the capital to be home for christmas leaving america teetering on the brink. one of those enjoying christmas back if california is republican congressman tom mcclintock joining us from sacramento, california. you are a tea partier. you're part of the tea party caucus but you supported house speaker bane area plan b. yes? >>, of course, i did. again, there is no bill before the congress that proposes raising taxes on millionaires or anybody else for that matter. there is a law that goes into effect in ten days that raises taxes on millionaires, small businesses filing as millionaires and everybody else. boehner's bill tried to stop that for everybody else. offa lifeguard sees ten swimmers drowning off of his beach and can only reach nine of them to save them, it doesn't mean that he's drowned
for the week. >>> now, there are just ten days left to salvage a deal on the fiscal cliff where you, i, and everyone else will be paying much higher taxes. president obama is challenging congress to get it done. >> in ten days we face a deadline. in ten days under current law, tax rates are scheduled to rise on most americans. and even though democrats and republicans are arguing about whether those rates should go up for the wealthiest individuals, all of us, every single one of us agrees that tax rates shouldn't go up for the other 98% of americans, which includes 97% of small businesses. >> let's check in now with cnn's emily schmitt in washington. the president made this surprise late appearance yesterday. he urged republicans to approve, i guess what you might consider a stripped down deal. this all happened around dinner time. so a lot of folks might not have seen it. give us the details. what is he proposing? >> well, i have to tell you, a few minutes ago, president obama landed in hawaii, 72 degrees there was the temperature on the ground. certainly warmer than it is in washing
version of a fiscal cliff deal, you know, keeping tax cuts in place for 98% of americans, extending unemployment insurance, and laying out a plan, a down payment on a promise to do entitlement reform and also made a pitch to the american people to only blame republicans if there is no deal. so it is a two-pronged attack that he makes right before taking off on vacation. so right now, you know, the plan is basically to keep the pressure on, and we know both sides are planning to come back at some point after christmas and try to get something worked out, but no overt optimism coming really from the aides on either side right now. we'll see, soledad. i will tell you folks right now are planning to make new year's eve plans here in washington, d.c. we're not so sure we're getting out of town yet. >> they should be plans you can cancel if case you have to go right back to work. let me ask a question. jessica says pressure is a great motivator. talk about pressure last night on speaker boehner, couldn't get enough support from his own party for his plan. what does that mean for any kind
was pulled from a vote on thursday evening. speaker boehner said about the fiscal cliff, "got only knows." he. -- he appeared with eric cantor. this is about 10 minutes. >> the house did not take up the tax bill last night because we did not have the votes to pass. it is not the outcome that i wanted. was the will of the house. unless the president and congress take action, tax rates will go up on every american taxpayer and devastating defense cuts will go into effect in 10 days. the house has already passed bills addressing the fiscal cliff. we passed a bill replacing the president's sequestered with irresponsible spending cuts. we did that last may. we passed a bill to stop all the tax hikes on the american people scheduled to take effect january 1, and we did that august 1. and we proposed plans over and over again that democrats used to support but now will not. i do not want taxes to go up, republican do not want texas to go up. but we only when the house. democrats continued to run washington. what the president has proposed so far simply will not do anything to solve our spending prob
, now, to the fiscal cliff getting closer. just ten days until everybody's taxes go up and spending cuts kick in. and washington's a ghost town with no deal in sight. talks halted until after christmas, leaving just a few days to bang out some kind of plan before the deadline. abc's david kerley has the latest from the white house. david, before leaving us on the holidays with his family, the president urged lawmakers to find some common ground for these coming days. but it doesn't seem to be happening right now. >> reporter: the president in that same message, gave up on the big deal for right now. he wants a stop-gap measure to keep taxes from going up. and a framework for a deal next year. and the president's not in this house, either. this morning, the president arrived in his home state of hawaii for the holidays. before leaving, he told members of congress to cool down. have some eggnog and christmas cookies and come back and make a deal. >> nobody can get 100% of what they want. and this is not simply a contest between parties, in terms of who looks good and who doesn't. there are
to the fiscal cliff. the combination of tax hikes and across the board spending cuts that no one wants to have happen. the president seems to be sticking with his plan and congress seems to be in disarray. time is running out. the time is january 1st just ten days away. nancy cordes has the latest on the negotiations. >> reporter: shortly before he left for hawaii president obama urged congressional leaders to address a smaller plan to avert the fiscal cliff because his talk with speaker boehner on a smaller deal have stalled. >> i met them halfway on taxes, and i met them more than halfway on spending. >> reporter: that was not speaker boehner's take earlier in the day. >> what the president has proposed so far simply won't do anything to solve our spending problem. he wants more spending and more tax hikes that will hurt our economy. >> reporter: but boehner's position was weakened after he tried but failed to pass his own plan in the house. >> as you know the house did not take up the tax bill last night because we didn't have the votes to pass it. it's not the
is following this in washington. >> reporter: yeah, the fiscal cliff may be looming, but both sides have put negotiations on hold for now, to take a christmas holiday. no deal was reached this week to keep taxes from going up for everyone at the end of the year. house speaker john boehner, while saying he's still hopeful a sweeping deal can be reached, he's nonetheless, accusing the president of ignoring a huge problem here. >> this was the year of the size of our debt. all 16 trillion dollars surpassed the size of our entire economy. it's a grim many will have to bear if we don't come to grips with it. the president's solution of raising tax rates would still be red ink for as far as the eye can see he. >> reporter: president obama landed in hawaii this morning for a shorter than usual christmas break. and the white house yesterday, he said he thinks the comprehensive deal could still be reached, but at the same time, pushed for a scaled back plan to cut taxes for the middle class. >> even though democrats and republicans are arguing about whether those rates should go up for the wealthies
are heading toward the fiscal cliff, and if the white house and republicans can't reach a deal, taxes will rise, and the economy will be in real jeopardy. earlier i talked with trish regan, anchor with bloomberg tv. she confirmed the unwanted prospects. >> reporter: taxes on every american will go up. we will also see the payroll tax cut end. so that's another thing that we'll wind up paying. don't forget, there's two million people now that are getting an extension on unemployment benefits. that will end, as well. a little less money in everybody's pockets. >> yeah. and stock markets, certainly we were watching the market yesterday. they've taken a dive. why is that? what is the connection, and do you see this continuing? >> reporter: the consumer basically accounts for about 2/3 of this overall economy. so consumer spending is critical to having a healthy economy. so if the consumer is being taxed more, doesn't have as much money to spend, the expectation is the consumer will pull back. you've also got something else going on, that's there's a lot of entertainment in the see suite.
the fiscal cliff. because the president is asking congress to pass a bill to keep taxes from increasing. 98% of american taxpayers. do you think that will happen of before the end of the year? >> if speaker boehner agrees to allow a vote to take place in the senate. and although on the one hand he said, you know, it is in the senate's hands he's not committed to really allowing the majority to work as well in the house. if you look at the government shutdown last year, if you look at the debt limit and payroll tax discussion, every one of those instances, you know, it was a measure that was made in the senate. that finally -- found a solution. he has to recognize that he's not just the speaker or leader of the the caucus but of one branch of the government and he has to allow and make a commitment that he will allow a vote to go forward. he can't just wash his hands and -- throw it over to the senate. he's -- part of the process. and so far -- answers have been very inadequate. >> with his -- failure of his plan b, what do you think is the most likely solution to the tax increases? and budg
-year tax hikes associated with the fiscal cliff. >> in the next few days i've asked leaders of congress to work towards a package that prevents a tax hike on middle class americans, protects unemployment insurance for 2 million americans and lays the groundwork for further work on both and deficit reduction. >>reporter: the remarks came after house speaker john boehner failed to muster enough of his party's support to bring his "plan b" to the floor. his proposal would have effectively raised taxes only on those americans making more than one million dollars a year. >> we had a number of our members who just really didn't want to be perceived as having raised taxes. >>reporter: the two sides each left the capitol for the christmas holidays, blaming the other for inaction. democrats said thursday's failure in the house pointed to a need for more compromise by the g-o- p. >> house republicans have gotten the message loud and clear that a comprehensive solution to the looming fiscal cliff will need to be a bipartisan solution. >>reporter: senate republican leader mitch mcconnell said the n
of omaha has plenty to say on taxes and the fiscal cliff: we talk with his long-time friend and "fortune" magazine journalist carol loomis. that and more tonight on "n.b.r." some straight talk from president obama tonight about
to the ongoing negotiations to prevent the so- called fiscal cliff we have mentioned. there are just 10 days to go until this potentially damaging combination of tax increases and spending cuts goes into effect, but so far, the politicians seem no closer to averting the plunge. president obama is pressing for action. he had this to say just a few minutes ago. >> i just spoke to speaker boehner and i also met with senator reid. i have asked the leaders of congress to prevent tax hikes on middle-class americans, protect unemployment insurance for 2 million americans, and lay the groundwork for further work. that is an achievable goal. that can get down in 10 days. >> president obama there on the upcoming fiscal cliff. joining me now to discuss the standoff is the bbc's ben wright. thank you very much. was there anything in the president's speech that would give us any cause for optimism that is the cliff can beat averted? >> i thought his tone was interesting. he was optimistic an exasperated at the same time. he reminded people in congress they only have 10 days left to find a deal before the
on republicans to at least extend the middle class tax cuts to avoid the fiscal cliff. those folks, families making under 250,0 a year, kept up the pressure on republicans to at least do that and that, we may see that happen,elissa because, listen, there are some republicans on the hill who think, heard it from senator corker, who said, hey, let's just do that but let's get to entitlement reform and real spending cuts when w get to the debt ceiling in february and march. we might, i can't rule out that might happen but right now, there is no deal. melia: all right. peter. thank you so much for that, thanks fo sticking around. for more analysis of president the's remarks let's bring back our money power panel. kimberly foss, scott martin and steve hayes. steve, as i was listening to that i felt taxes go up, didn't you? i just, you can feel it in your bones. it is a-come inch. >> this is what the profit wants. you heard himbout unemployment insurance, extending that. you heard about the taxes above 250, going up. this is basically sort of the bare bones of president obama's wish-list. i think
be a whole lot of pressure on washington to act, even if we were to go over the fiscal cliff. and because of that, payroll processors would wait to use the new math, if you will. and a lot of people wouldn't see an increase in the taxes taken out of their paychecks until late january or early february when it was clear that the fiscal cliff was here to stay. >> brianna, i am not by nature a jealous person at all. but are you in waikiki? is that waikiki? because i was just there for thanksgiving. >> reporter: not too bad, huh? >> i'm hating you to so much right now. congratulations on that assignment. brianna keilar. protests in the streets. police turned water can nons on men, women and children outraged over a brutal attack. and a former u.s. marine has been set free in mexico. but an american businessman has been held for over a year, charged with ties to organized crime. he says his life is on the line. and cut! very good. people are always asking me how we make these geico adverts. so we're taking you behind the scenes. this coffee cup, for example, is computer animated. it's not real
a deal on the looming "fiscal cliff" so that means there are now just 10 days remaining until the automatic tax hikes and spending cuts kick in january 1. disagreements over how much to raise the taxes and cut spending continued to separate democrats and republicans. president obama called on house speaker john boehner to come back to the negotiating table and avoid the "fiscal cliff." >> as of today, i am still ready and willing to get a comprehensive package done. >> the remarks came after speaker boehner failed to gather enough of his party's support to bring his so-called plan b to the floor for a vote. his proposal would have effectively raised taxes only on those americans making more than a million dollars a year. house and senate members will be back at the capital on december 27th looking for that solution. >>> wall street worried about the "fiscal cliff" talks, stocks closed sharply lower today. the dow dropped more than 120 points. the nasdaq fell 29 points. the s&p dropped, as well. >>> california cannot stop people from using the so-called conversion therapy to tr
that no deal has been made to avoid the fiscal cliff. coming up, the president's message to congress today in hopes of avoiding tax hikes and spending cuts. >>> different solution to gun violence. what this man says it is time to do about guns and his push to make it happen. >> a foot of new snow [ bells ] >>> the names of each victim killed in the connecticut school shooting at sandy hook elementary school in newton, connecticut were read today. mourners observed a moment of silence to mark one week. many gathered in the rain outside the school to pay respects. >>> the head of the national rifle association layed out a plan to stop the killings. ktvu's eric rasmussen found one man who is leading a different fight to treat gun violence as a public health epidemic. >> reporter: he is one of hundreds of petitions that sprung up since the tragedy at sandy hook elementary school. >> reporter: as the national rifle association took the podium in washington. >> the only thing that stop as bad guy with a gun is a good guy with a gun. >> reporter: he was pushing a different solution. >> there are
the impending fiscal cliff scenario. once again he he made a case for raising taxes on the top 2%. jing us now to respond dick harr harr boot alan. the president came out late afternoon inconveniencing the media which is the way it goes. he didn't say anything new. he said i'm an optimist and we should all take a break and let cooler heads prevail and people are suffering out there and they need more from washington. let me start by saying this. he still talks about washington as if he is not in washington. okay? my point on this is why is anyone going home or why is anyone taking much of a break until this thing is decided and agreed upon? your response. >> well, i think the president is facing a dysfunctional house of representatives. john boehner speaker of the house couldn't get his own plan passed this week. and i think he he is frustrated by the fact that he is dealing with a guy who can't deliver on any promises. on the senate side, the senate passed a bill last summer that would keep the bush tax cuts in place for everybody that makes $250,000 a year or less. it's been sitting over in
mergener for cbs news, washington. >>> the failed efforts on the "fiscal cliff" sent the stock market sliding. the dow dropped more than 120 points. the nasdaq and s&p fell sharply. >>> some good news tonight on california's unemployment rate. it fell last month. it's in single digits for the first time since the recession began four years ago. the october rate was 9.8% but the numbers vary across the state. it's above 6% in san francisco and san mateo counties. just below 6% in marin county. but in drought battered imperial county, it is a staggering 26%! >>> extra misery for last-minute shoppers. >> i thought we had more time and here it is the last weekend. >> the bad weather making them pay for their procrastination. how some businesses are offering a gift of their own. >> and epic weather what the roads and slopes look like in a live report. ,, ,,,,,,,,,, must-have: air-jordans. hundreds lined up at malls across the country, includi the stonewst francisco, for >>> the newest holiday shopping must have, air jordans. hundreds lined up at malls across the country including stonestow
Search Results 0 to 49 of about 79 (some duplicates have been removed)